HDFC Bank cuts MCLR by 10 bps across tenures

HDFC Bank has reduced its marginal cost of funds-based lending rate by 10 basis points across all tenures, effective Monday, according to an update on the bank’s website.

Following the revision, the bank’s MCLR ranges between 9.10% and 9.35%. The Reserve Bank of India requires all banks to review their MCLR every month.